The profit of the largest European low-cost airline, Ryanair, for the first nine months of the 2018-2019 fiscal year (ended December 31) decreased by 22.4% YoY and amounted to 1.085 billion EUR, according to the company’s financial statements.
Earnings per share amounted to 0.94 EUR against 1.16 EUR in the same period a year earlier. The revenue grew by 10.1% YoY to 6.419 billion EUR. Passenger traffic increased by 7%, amounting to 109.3 million people, which was offset by a decrease in the average cost of transportation by 4% to 41 EUR.
In the third quarter of the 2018-2019 fiscal year, the company received a net loss of 66.1 million EUR. At the same time, without taking into account the indicators of the airline Lauda, the loss for three months amounted to 19.6 million EUR.
Ryanair’s diluted loss per share for the period was 5.8 cents against a profit of 8.85 cents a year earlier. Revenue grew by 12.6% YoY to 1.581 billion EUR.
The quarter also showed a 6% decrease in airfare to a level below 30 euros per passenger, which had a negative impact on financial performance for three months. The volume of passenger traffic in the third quarter increased by 8%, reaching 32.7 million people. According to the results of fingod, the air carrier expects to reduce the cost of transportation by 7%, while the volume of traffic is expected to increase by 9%, to 142 million people.
“Although the loss of 20 million EUR in the third quarter did not meet expectations, we are comforted by the fact that it was entirely due to lower than expected cost of transportation, so that our passengers can enjoy record low prices, which is good for the current and future growth in traffic”, said the CEO of Ryanair, Michael O’Leary.
Ryanair is the largest air carrier in Europe, annually the company transports 142 million people, carrying out more than 2,400 flights to more than 200 destinations in 37 countries every day. The airline employs 14,000 people.
